09/07/2026
It's Labour Day and tomorrow is the first day of what would normally be the Fall real estate market in Toronto. Normally we would see a wave of new listings and increased sales activity. The fact that the Bank of Canada has held interest rates yet again is good news for folks who have or are considering obtaining variable rate mortgages. But the BOC can only do so much to counteract the flailing in the US bond market, which affects fixed mortgage rates. And then we have the tariffs and counter tariffs ... it is anyone's guess how that is going to end up playing out.
So, what do you do if you are contemplating a move in this geopolitical and economic environment? The first and obvious thing is to determine why you really want to make a move ... what is it about your current situation that is not working? Is this situation really serious enough that you feel compelled to make the leap?
The the next step would be to lock down your financing. Getting a written pre-approval on a mortgage is cost-free, and its 90-120 day hold on an interest rate could potentially save you thousands of dollars.
Only when these first two steps are taken, should you seriously consider making that move. Need to talk it through with a real estate professional? Just DM me or give me a call, and let's chat over coffee!